How Rivian Crushed All Electric Vehicle Stocks Today

The last 24 hours have brought two less-than-bullish earnings reports for the electric vehicle industry and it's pulling the entire segment lower in trading on Wednesday. Rivian (NASDAQ: RIVN) started the trend when it released earnings after the market closed on Tuesday, but Workhorse Group's (NASDAQ: WKHS) report this morning didn't help. Shares of Workhorse are down 12.6% at 2 p.m. ET, Lucid Group (NASDAQ: LCID) has fallen 6.7%, Canoo (NASDAQ: GOEV) is down 2.7%, and battery supplier QuantumScape (NYSE: QS) has dropped 6.8%.